I have been following the annual Fortune Global 500 list since 2003. Back then, I would look at each name on the list every day during class, feeling both excited and curious.
As time passes, some companies disappear from the list each year, while new ones emerge. Of course, there are also those that remain firmly entrenched, dominating the global market for years.
Analysis of Chinese Companies
Looking at the 2010 list, it seems that the number of Chinese companies has significantly increased. In fact, according to the Financial Times’ market capitalization-based Global 500 list, Sinopec, a company with a questionable reputation, topped the list. I remember back in 2003, there were only about 10 Chinese companies on the list, and even with the inclusion of companies from Hong Kong and Taiwan, the total didn’t reach 20. At that time, the U.S. accounted for 40% of the list, Japan had around 70-80 companies, and Germany, the UK, and France each had about 40 companies. These five countries alone made up 80% of the Global 500. What was particularly frustrating was that China was even behind smaller countries like the Netherlands, Switzerland, Italy, and South Korea.